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20121222
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tighter in mortgage lending.' in his work helping homebuyers find financing, michael mcauliffe has seen the mortgage process change dramatically the past few years. gone are the loose lending requirements and lax regulations of 2006. today, it is all about tougher standards and more serious oversight of every loan. 'banks made a big mistake giving out all those loans, and regulators probably weren't looking as closely as they should have been. so, now they're both making sure that the finger doesn't get pointed at them again.' to get that loan in the new year, mcauliffe says be honest about what you can afford, save for a large down payment, and don't count on that loan until all the papers are signed. 'the big thing is, don't do anything to negatively affect that credit score. they're going to check your job that day, they're going to put your credit that day. in fact, they're going to look at the appraisal to make sure it all makes sense to them. fiori remains hopeful that even in this tight-money environment, financing will ultimately come his way in the new year. mcauliffe adds that
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